Quito – 27.02.2020
RENPOWER Andes Investors 2020will be the leading networking venue for key government decision makers and key stakeholders from the international market to step into the Andean region, with a major focus in Ecuador.
The Andean region has abundant natural resources to produce electricity from nonconventional renewable energies. Most of the countries have developed policies for a dynamic market open for investors. In 2019, Ecuador announced a series of auctions totaling in 500 MW combined in solar, wind and mini-hydro projects. These renewable energy projects will be granted to winning companies through Build–Operate–Transfer (BOT) and PPA contracts. The government has indeed established a legal framework that brings certainty and confidence to investors. Results will be announced by the Ecuadorian government in April of 2020.
With these renewable energy tenders, the Andean country seeks to reduce risk by increasing generation capacity from nonconventional renewable energies – solar and wind, notably, given the uncertainty that climate change may cause to the large-scale hydro projects that have been Ecuador’s main source of clean energy in the past years. According to the International Renewable Energy Agency (IRENA), Ecuador hasn’t connected any utility-scale solar plant in the country’s grid over the past five years. By opening the gates for new renewable energy technologies through these auctions, Ecuador will be joining its neighboring countries that have already gained advantage by opening the market of electricity generation from renewable energy. Learn more about this market and meet with the experts by joining us at RENPOWER Andes Investors 2020.
For more information, please contact:
+1 407 227 3831